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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from 2012, drawing the conclusion that everything points to China. According Mr. George Lazaridis from Intermodal, “only a week back, China celebrated its 10th anniversary of joining the WTO. During this period its GDP growth set new records and a country whose GDP in 1995 was on par with the Greek GDP of 2011 (!!!), it propelled itself over this past decade to becoming the second largest economy in the world.
Chen Deming, head of China's Ministry of Commerce, said recently at the eighth WTO Ministerial Conference, that China will become the world's largest importer in 2020 due to its expanding market. This may not be as farfetched as some pundits would claim, as intra-Asian trade has grown exponential over the past decade, while it was China’s internal demand that helped keep most of the Asian markets away from the problems faced in Europe and America since the financial crisis” he said.
He went on to mention that “these days however, the on-going policy of tightening and decreasing external demand, combined with decelerating investment as the fiscal stimulus unwinds, has resulted in China’s GDP growth forecasts to come off by 0,5% to (a still staggering) 9% p.a. With China playing a major role in global seaborne trade, many fear that a slowdown in its growth would immediately translate into a slowdown in demand growth for ships. Though this may turn out to be true, due to the fact that much of its industrial production is heavily reliant on importing of raw materials from far away locations, global tone-mile demand growth for most vessel types may even increase. This is based on the assumption that most of the new demand for raw materials will be covered by areas such as South America, Australia and West Africa. These trade routes carry a much higher tone-mile demand than the average route, meaning that demand for ships may increase at a faster pace than global trade volumes.
Although this may be considered a highly optimistic scenario for many in the Shipping industry, what remains certain is that for yet another year China leads the demand for seaborne trade and as such the shipping market’s prospects are closely tied for the moment to that of Chinese trade developments, for better or for worse” concluded Lazaridis.
Meanwhile, a lot could be done to help the market recover to even healthier levels of freight rates, if ship owners are willing to continue the record pace of demolition activity set during 2011. During the course of the past week, according to Piraeus-based shipbroker’s report, “the scrapping activity has shown signs of firmness this week, while scrap prices are still squeezed downwards with Bangladesh demolition ban being still in effect. The Rupee remains weak against the dollar with scrap buyers offering $465/ldt for dry/general and $495/ldt for wet cargo. Pakistan has narrowed its price gap with Alang cash buyers, but it still struggles to attract vessels for beaching. China has improved its levels by attracting this week dry units at about $400/ldt. Market rumors for a late Bangladesh market upturn do not support a prompt spike in scrap levels; whereas the recent dry euphoria do not stimulate further vessels’ disposals in the capesize segment. In the tanker market, rumors circulated in the market for two more double hull VLCCs, built 1996 and 1998, being sent for disposal by Japanese shipping giant Mitsui OSK Lines (MOL). This decision describes the dire freight market and gives an incentive for other wet operators to follow in similar movements as a step to ease the oversupply pain.
The week ended with 15 vessels reported to have been headed to the scrap yards of total deadweight 1,011,574 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 114% week-on-week increase and regarding the total deadweight sent for scrap there has been a 370% increase. In terms of scrap rates, the highest scrap rate has been achieved this week in the container segment by India for M/V “MSC MAHIMA” with 16,143/ldt at $517/ldt due to decent country built, non ferrous content and vessels equipment with full spares. India has attracted 53% of the total demolition activity with China winning 4 bulk carriers and one liner unit. At a similar week in 2010, demolition activity was down by 53% from the current levels, in terms of the reported number of transactions, 7 vessels had been reported for scrap of total deadweight 575,804 tons with tankers grasping 71.4% of the total number of vessels sent for disposal. India and Pakistan had been offering $440-445/ldt for dry and $475/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Planning Commission, India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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